:: Abu Dhabi shopping spree: Taqa bags another Canadian firm for $5 billion
Posted: 01 October 2007
The Abu Dhabi National Energy (Taqa) has purchased two Canadian firms for over $5.5 billion last month; deals which observers say are over-priced.

:: MIS acquires stake in Gulf Marine Services
Posted: 01 October 2007
Maritime Industrial Services(MIS) enters the marine vessel and jack-up service barge market by acquiring stake in the leading builder and operator of jack-up service barges in the Middle East , Gulf Marine Services.

:: Libya’s Adwoc inks $38 million loan
Posted: 01 October 2007
Arab Banking Corporation (ABC) and the Arab Petroleum Investment Corporation (Apicorp) have signed a $38 million loan agreement in Bahrain with the Arab Drilling and Workover Company (Adwoc) in Libya , Emirates news agency WAM reported on Friday.

:: Abu Dhabi to slash output
Posted: 01 October 2007
Abu Dhabi will soon launch a major maintenance programme at its key oilfields and officials said it would slash output by nearly 600,000 bpd.

:: Competition for oil and gas reserves heating up, says UN trade body
Posted: 01 October 2007
The emergence of new players in the global market and shifts in the policies of gas and oil producers means that traditional conglomerates from industrialised nations are facing increasing competition in the race to access the world’s reserves, the United Nations agency on trade and development issues said last week.

:: Petrofac recruits 60 engineering graduates
Posted: 01 October 2007
International oil and gas facilities service provider, Petrofac has recruited a record number of engineering graduates to its Sharjah-based Engineering and Construction business.

:: Invensys launches new control system
Posted: 01 October 2007
Business automation developer Invensys has introduced the first generation enterprise control system (ECS) for the oil and gas industry.

:: $5.25 billion contracts traded on DME
Posted: 01 October 2007
The Dubai Mercantile Exchange Limited (DME) announced last week a record of 100,000 contracts worth $5.25 billion traded on the exchange since its launch on June 1, 2007 .

:: Saudi Aramco gets patent for unique cement tester
Posted: 01 October 2007
Saudi Aramco has received patent for a unique downhole technology, a statement from its website said last week.

:: Continental Energy appoints new director
Posted: 01 October 2007
Continental Energy has appointed Phillip B. Garrison to the board of directors to fill a vacancy until the next annual general meeting.

:: Sky Petroleum’s second Mubarek well to go onstream
Posted: 01 October 2007
The Mubarek K2-ST4 well has been drilled to a total depth of 13,528 feet (12,866 feet Total Vertical Depth) near the base of the Ilam reservoir, Sky Petroleum reported in a statement.

:: KS Energy forms Atlantic Marine Services Pakistan BV
Posted: 01 October 2007
KS Energy has formed Atlantic Marine Services Pakistan BV for the purpose of providing drilling services to BP Pakistan. KS Energy previously announced entering a drilling contract with BP Pakistan for the supply and management of a 1500HP land drilling rig on June 26, 2007.

:: Tethys Oil Applies for Listing on Dubai Exchange
Posted: 01 October 2007
The Board of Directors of Tethys Oil today decided to apply for a secondary listing of the Company’s shares on the Dubai International Financial Exchange (DIFX).

:: Gulfsands Petroleum plans second appraisal well at Khurbet East
Posted: 01 October 2007
Gulfsands Petroleum says that a second appraisal well at Khurbet East ("KHE-3"), Syria , is scheduled to commence drilling in November of 2007. Additionally, a 3D seismic survey is scheduled to commence in late October that will cover both Khurbet East and adjacent exploration leads to the south of the Khurbet East discovery.